Insurance Sales – A Needs Analysis Isn’t a Product Sales Tool

Author:

Do you find a lot of objections after you have done a needs analysis? This is because you are not correctly implementing the right idea. This is because you believe a needs analysis should be a sales tool.

It is clear that when you conduct a need analysis, you are doing it to determine what product you could sell the prospect. This is a backwards approach and a wrong implementation of the concept. This is because you believe that the prospect should also see the solution as soon as they see it.

You can’t ask a prospect if there’s a need or why they need it. If they don’t want it, they won’t buy it. You must get the prospect to reveal what they really want. It’s not as simple as it sounds. Prospects are often confused and don’t know what they want.

Sometimes they may not be clear on what they want. The goal of the needs analysis should be to assist them in clarifying their needs and putting them on the table for discussion. You will be surprised at how few people actually take action based on what you know.

ALSO READ  Car insurance for a Scion FR-S

As you help them to communicate their needs, they will start to open up to you. What they want is the gold or closed transaction. You can help them achieve their goals, even though they might not be sure of what they want.

People are capable and willing to take the necessary steps to purchase what they want. Once they realize they need something, they will create their own rationales why they should purchase it. This is exactly what you want them to do. You will never talk about products or discuss solutions.

This is because of one simple reason. You don’t have any business to talk about until the prospect has stated that they have a genuine need and that satisfying that need would give them what they want. Once they have shared their need and what they want, you can move on to the next step: to determine the value to them.

You lose when you rush to offer a solution before the prospect is ready. They lose because they are trying to offer a solution that isn’t important to them. They may agree to the sale, but then back out, cancel or refuse to follow through. You’ll be frustrated and wasting your time on a sale that isn’t going to happen. Learn how to implement a needs analysis properly and make changes.

ALSO READ  What is Cryptocurrency And It's Types?